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Dec. 18, 2018, 6:52 a.m. EST

DPW to pursue IPO of its technology and defense businesses

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By Tomi Kilgore

SPX

DPW Holdings Inc. said Tuesday it will pursue an initial public offering of its DPW Technology Group, which includes its defense and aerospace and electronics and power solutions businesses. The diversified industrial company expects the IPO to be completed in the first half of 2019. DPW will remain a majority shareholder of the new entity. "Our strategy is to create opportunities for investors to hold equity in more focused, streamlined entities," said Chief Executive Milton Ault, III. "The technology and defense businesses have generated a significant backlog, and we believe the capital from an IPO will accelerate revenue growth and, ultimately, add value to our stockholders." DPW's stock, which was still inactive in premarket trade, has plunged 96% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.21% has slipped 4.8%.

/zigman2/quotes/210599714/realtime
US : S&P US
3,647.29
-7.75 -0.21%
Volume: 2.22B
Sept. 27, 2022 5:18p
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